The Fed only projects one rate cut this year, down from three, but raises the number of total projected rate cuts to 4 in 2025.
Asia-Pacific markets were set to climb on Thursday after the U.S. Federal Reserve held the Federal Funds rate at 5.25% to 5.5%, and shifted itsThis was down from the three cuts projected in its March meeting, although the dot plot also indicated a more aggressive cutting path for 2025. Four rate cuts totaling a full percentage point are anticipated, up from three.
However, the new statement also said,"In recent months, there has been modest further progress toward the Committee's 2 percent inflation objective."Separately, inflation in May remained unchanged from April, rising 3.3% year-on-year and remaining flat on aa month-on-month basis.Oceanside landlord says property taxes rose 600% after parents' deaths due to Prop 19
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